Closed-loop real-time resource event processing

ABSTRACT

Embodiments of the invention are directed to closed-loop resource event processing in which an initial determination as to whether a resource event requiring real-time processing can be processed absent an external real-time processing network. In the event that a determination is made that the resource event can by processed absent the external real-time processing network, a closed network group is created internally within the event-initiating system and the event is processed internally within the event initiating-system. By limiting the use of the real-time processing network to only those resource event that require such processing, less burden is placed on real-time processing network, meaning less processing resources are required and the processing that is required on the real-time processing network can occur more efficiently and effectively.

FIELD OF THE INVENTION

The present invention is generally directed to computer-related resourceevent processing and, more specifically, a system that provides forclosed-loop real-time event processing as a result of determining that aresource event is capable of being processed, in real-time, withoutprocessing the resource event via an external real-time processingnetwork.

BACKGROUND

A need exists to develop systems, apparatus, methods or the like forprocessing resource events in real-time in an efficient and effectivemanner. In this regard, a need exists to insure that only those resourceevents which require processing by an external real-time processingnetwork are subjected to such processing. By limiting the processingthat occurs in the external real-time processing network to only thoseresource events requiring such, the burden placed on the real-timeprocessing network can be lessened (i.e., less processing resources arerequired, overall processing speed may increase, useful life ofprocessing resources may increase and the like).

BRIEF SUMMARY

The following presents a simplified summary of one or more embodimentsof the invention in order to provide a basic understanding of suchembodiments. This summary is not an extensive overview of allcontemplated embodiments, and is intended to neither identify key orcritical elements of all embodiments, nor delineate the scope of any orall embodiments. Its sole purpose is to present some concepts of one ormore embodiments in a simplified form as a prelude to the more detaileddescription that is presented later.

Embodiments of the present invention address the above needs and/orachieve other advantages by providing systems, apparatus, methods and/orthe like for closed loop resource event processing. In response toreceiving a request to process a resource event in real-time, adetermination is made as to whether the resource event implicates auser-specific resource depository held by the resource recipient at (i)the event initiating entity system, or (ii) an entity system other thanevent initiating entity system. In response to determining that theresource event implicates the user-specific resource depository held bythe resource recipient at the event initiating entity system, a closedloop network group is generated between the resource provider and theresource recipient and the resource event request is routed forprocessing within the event initiating entity system. In response todetermining that the resource event implicates the user-specificresource depository held by the resource recipient at an entity systemother than event initiating entity system, the resource event request isrouted for processing within a real-time processing network.

In specific embodiments of the invention, processing within the receivereal-time processing network includes processing a hub-based resourceevent that implicates one of the entity-specific resource depositoriesassociated with the resource provider and another of the entity-specificresource depositories associated with the entity system associated withthe resource recipient. In this regard, the hub-based resource eventprovides for real-time clearing of the resource event at the entitysystem associated with the resource recipient.

In other specific embodiments of the invention in which a determinationis made that the resource event implicates the user-specific resourcedepository held by the resource recipient at the event-initiatingsystem, the event route, event timing and/or a resource event channelmay be logically determined for processing the resource event within theevent initiating system.

A system for closed loop resource event processing defines firstembodiments of the invention. The system includes a real-time processingnetwork configured to process resource events in real-time. The systemfurther includes a first computing platform having a first memory and atleast one first processor in communication with the first memory. Thefirst memory stores first instructions that are executable by the atleast first processor. The first instructions are configured to receive,from a first user associated with a first entity system, a resourceevent request that requests a real-time resource event. The firstinstructions are further configured to determine whether the resourceevent implicates a user-specific resource depository held by the seconduser at (i) the first entity system, or (ii) an entity system other thanfirst entity system. In response to determining that the resource eventimplicates the user-specific resource depository held by the second userat the first entity system, the first instructions are configured togenerate a closed loop network group between the first user and thesecond user and route the resource event request for processing withinthe first entity system. In response to determining that the resourceevent implicates the user-specific resource depository held by thesecond user at the entity system other than first entity, the firstinstructions are configured to route the resource event request forprocessing within the real-time processing network.

In specific embodiments of the system, the real-time processing networkfurther includes at least one resource event processing hub, eachresource event processing hub includes a second computing platformhaving a second memory and at least one second processor incommunication with the second memory. The second memory stores aplurality of entity-specific resource depositories, each entity-specificresource depository associated with one of a plurality of entities andconfigured to store resources. The second memory further stores secondinstructions that are executable by the at least second processor. Thesecond instructions are configured to, in response to determining thatthe resource event implicates the user-specific resource depository heldby the second user at the entity system other than first entity,receive, from the first entity system, a resource event command. Thesecond instructions are further configured to, in response to receivingthe resource event command, conduct a hub-based resource event thatimplicates one of the entity-specific resource depositories associatedwith the first entity and another of the entity-specific resourcedepositories associated with the entity system other than the firstsystem. The hub-based resource event provides for real-time clearing ofthe resource event at the entity system other than the first system.

In other specific embodiments of the system the first instructions areconfigured to determine whether the resource event implicates auser-specific resource depository held by the second user at (i) thefirst entity system, or (ii) an entity system other than first entitysystem by determining whether the resource event request includes aresource event identifier associated with the first entity or the entitysystem other than the first entity. In other related embodiments of thesystem the first instructions are configured to determine whether theresource event implicates a user-specific resource depository held bythe second user at (i) the first entity system, or (ii) an entity systemother than first entity system by performing a search of a database thatfederates users with user-specific resource depositories associated withthe first entity to determine whether the second user holds auser-specific resource depository at the first entity system.

In still further specific embodiments of the system the firstinstructions are configured to, in response to determining that theresource event implicates the user-specific resource depository held bythe second user at the first entity system, logically determine (i) anevent route for processing the resource event within the first entitysystem, (ii) timing for initiating the processing of the resource eventwithin the first entity system and/or (iii) a resource event channel forprocessing the resource event within the first entity system.

In still further embodiments of the system, the first instructions areexecuted by a plurality of entity systems, while in other embodiments ofthe system the first instructions are executed as part of a centralizedresource event processing hub and, as such, are configured to receiveresource event requests from users associated with one or more of aplurality of entity systems.

In yet other specific embodiments of the system, the resource event isone of a resource transaction or a resource disbursement.

A computer-implemented method for closed loop resource event processingdefines second embodiments of the invention. The computer-implementedmethod is implemented by one or more processing devices. The methodincludes receiving, from a first user associated with a first entitysystem, a resource event request that requests a real-time resourceevent. The method further includes determining whether the resourceevent implicates a user-specific resource depository held by the seconduser at (i) the first entity system, or (ii) an entity system other thanfirst entity system. In response to determining that the resource eventimplicates the user-specific resource depository held by the second userat the first entity system, the method includes generating a closed loopnetwork group between the first user and the second user and routing theresource event request for processing within the first entity system. Inresponse to determining that the resource event implicates theuser-specific resource depository held by the second user at the entitysystem other than first entity, the method includes routing the resourceevent request for processing within the real-time processing network.

In further embodiments the method includes, in response to determiningthat the resource event implicates the user-specific resource depositoryheld by the second user at the entity system other than first entity,receive, at a resource event processing hub, a resource event commandfrom the first entity system and in response to receiving the resourceevent command, conduct a hub-based resource event that implicates afirst entity-specific resource depository associated with the firstentity and another entity-specific resource depository associated withthe entity system other than the first system. The hub-based resourceevent provides for real-time clearing of the resource event at theentity system other than the first system.

In further specific embodiments of the method, determining whether theresource event implicates a user-specific resource depository held bythe second user at (i) the first entity system, or (ii) an entity systemother than first entity system further includes determining whether theresource event request includes a resource event identifier associatedwith the first entity or the entity system other than the first entity.In other related embodiments of the method, determining whether theresource event implicates a user-specific resource depository held bythe second user at (i) the first entity system, or (ii) an entity systemother than first entity system further includes performing a search of adatabase that federates users with user-specific resource depositoriesassociated with the first entity to determine whether the second userholds a user-specific resource depository at the first entity system.

In other specific embodiments the method further includes, in responseto determining that the resource event implicates the user-specificresource depository held by the second user at the first entity system,logically determine (i) an event route for processing the resource eventwithin the first entity system, (ii) timing for initiating theprocessing of the resource event within the first entity system and/or(iii) a resource event channel for processing the resource event withinthe first entity system.

A computer program product defines third embodiments of the invention.The computer program product includes a non-transitory computer-readablemedium. The computer-readable medium includes a first set of codes forcausing a first computer to receive, from a first user associated with afirst entity system, a resource event request that requests a real-timeresource event. The computer-readable medium additionally includes asecond set of codes for causing the first computer to determine whetherthe resource event implicates a user-specific resource depository heldby the second user at (i) the first entity system, or (ii) an entitysystem other than first entity system. Additionally, thecomputer-readable medium includes a third set of codes for causing thefirst computer to, in response to determining that the resource eventimplicates the user-specific resource depository held by the second userat the first entity system, generating a closed loop network groupbetween the first user and the second user and routing the resourceevent request for processing within the first entity system, Moreover,the computer-readable medium includes a fifth set of codes for causingthe first computer to, in response to determining that the resourceevent implicates the user-specific resource depository held by thesecond user at the entity system other than first entity, route theresource event request for processing within the real-time processingnetwork.

In specific embodiments of the computer program product, thecomputer-readable medium further includes a sixth set of codes forcausing a second computer to receive, from the first entity system, aresource event command, and a seventh set of codes for causing thesecond computer to, in response to receiving the resource event command,conduct a hub-based resource event that implicates a firstentity-specific resource depositories associated with the first entityand another of the entity-specific resource depositories associated withthe entity system other than the first system. The hub-based resourceevent provides for real-time clearing of the resource event at theentity system other than the first system.

In other specific embodiments of the computer program product the secondinstructions are further configured to determine whether the resourceevent request includes a resource event identifier associated with thefirst entity or the entity system other than the first entity. Inrelated embodiments of the computer program product the secondinstructions are further configured to conduct a search of a databasethat federates users with user-specific resource depositories associatedwith the first entity to determine whether the second user holds auser-specific resource depository at the first entity system.

In still other specific embodiments the computer program product thecomputer-readable medium includes a sixth set of codes for causing thefirst computer to, in response to determining that the resource eventimplicates the user-specific resource depository held by the second userat the first entity system, logically determine (i) an event route forprocessing the resource event within the first entity system, (ii)timing for initiating the processing of the resource event within thefirst entity system and/or (iii) a resource event channel for processingthe resource event within the first entity system.

Thus, according to embodiments of the invention, which will be discussedin greater detail below, the present invention provides for an initialdetermination as to whether a resource event can be processed andsettled absent an external real-time processing network. By limiting theuse of the real-time processing network to only those resource eventthat require such processing, less burden is placed on real-timeprocessing network, meaning less processing resources are required andthe processing that is required on the real-time processing network canoccur more efficiently and effectively.

The features, functions, and advantages that have been discussed may beachieved independently in various embodiments of the present inventionor may be combined with yet other embodiments, further details of whichcan be seen with reference to the following description and drawings.

BRIEF DESCRIPTION OF THE DRAWINGS

Having thus described embodiments of the disclosure in general terms,reference will now be made to the accompanying drawings, wherein:

FIG. 1 is a schematic diagram of a system for processing resource eventsin a real-time processing network, in accordance with some embodimentsof the present disclosure;

FIG. 2 is a schematic diagram of a system for processing resources eventin a real-time processing network using a clearing house system, inaccordance with embodiments of the present invention;

FIG. 3 is a schematic diagram of a system for processing financialtransactions/disbursements in a real-time processing network, inaccordance with embodiments of the present invention;

FIG. 4 is a schematic diagram of a system for processing financialtransactions/disbursements in a real-time processing network using aclearing house system, in accordance with embodiments of the presentinvention;

FIG. 5 is a block diagram of an apparatus for closed-loop real-timeresource event processing, in accordance with some embodiments of thepresent disclosure;

FIG. 6 is a block diagram of an apparatus configured for implementing aresource instrument for conducting a resource event via a real-timeprocessing network;

FIG. 7 is a block diagram of an apparatus configured for initiating andprocessing resource events across international real-time processingnetworks, in accordance with embodiments of the present invention;

FIG. 8 is a flow diagram of a method for closed-loop real-time resourceevent processing, in accordance with embodiments of the presentinvention;

FIG. 9 is a flow diagram of a method for implementing a resourceinstrument for conducting a resource event via a real-time processingnetwork, in accordance with embodiments of the present invention;

FIG. 10 is a flow diagram of a method for initiating and processing aresource event across an international real-time processing network, inaccordance with embodiments of the present invention; and

FIG. 11 is a schematic diagram of a system for interconnectedinternational real-time processing networks; in accordance withembodiments of the present invention.

DETAILED DESCRIPTION OF EMBODIMENTS OF THE INVENTION

Embodiments of the present invention will now be described more fullyhereinafter with reference to the accompanying drawings, in which some,but not all, embodiments of the invention are shown. Indeed, theinvention may be embodied in many different forms and should not beconstrued as limited to the embodiments set forth herein; rather, theseembodiments are provided so that this disclosure will satisfy applicablelegal requirements. Like numbers refer to like elements throughout.

As will be appreciated by one of skill in the art in view of thisdisclosure, the present invention may be embodied as a system, a method,a computer program product or a combination of the foregoing.Accordingly, embodiments of the present invention may take the form ofan entirely hardware embodiment, an entirely software embodiment(including firmware, resident software, micro-code, etc.), or anembodiment combining software and hardware aspects that may generally bereferred to herein as a “system.” Furthermore, embodiments of thepresent invention may take the form of a computer program productcomprising a computer-usable storage medium having computer-usableprogram code/computer-readable instructions embodied in the medium.

Any suitable computer-usable or computer-readable medium may beutilized. The computer usable or computer-readable medium may be, forexample but not limited to, an electronic, magnetic, optical,electromagnetic, infrared, or semiconductor system, apparatus, ordevice. More specific examples (e.g., a non-exhaustive list) of thecomputer-readable medium would include the following: an electricalconnection having one or more wires; a tangible medium such as aportable computer diskette, a hard disk, a time-dependent access memory(RAM), a read-only memory (ROM), an erasable programmable read-onlymemory (EPROM or Flash memory), a compact disc read-only memory(CD-ROM), or other tangible optical or magnetic storage device.

Computer program code/computer-readable instructions for carrying outoperations of embodiments of the present invention may be written in anobject oriented, scripted or unscripted programming language such asJAVA, PERL, SMALLTALK, C++, PYTHON or the like. However, the computerprogram code/computer-readable instructions for carrying out operationsof the invention may also be written in conventional proceduralprogramming languages, such as the “C” programming language or similarprogramming languages.

Embodiments of the present invention are described below with referenceto flowchart illustrations and/or block diagrams of methods or systems.It will be understood that each block of the flowchart illustrationsand/or block diagrams, and combinations of blocks in the flowchartillustrations and/or block diagrams, can be implemented by computerprogram instructions. These computer program instructions may beprovided to a processor of a general purpose computer, special purposecomputer, or other programmable data processing apparatus to produce aparticular machine, such that the instructions, which execute by theprocessor of the computer or other programmable data processingapparatus, create mechanisms for implementing the functions/actsspecified in the flowchart and/or block diagram block or blocks.

These computer program instructions may also be stored in acomputer-readable memory that can direct a computer or otherprogrammable data processing apparatus to function in a particularmanner, such that the instructions stored in the computer-readablememory produce an article of manufacture including instructions, whichimplement the function/act specified in the flowchart and/or blockdiagram block or blocks.

The computer program instructions may also be loaded onto a computer orother programmable data processing apparatus to cause a series ofoperational events to be performed on the computer or other programmableapparatus to produce a computer implemented process such that theinstructions, which execute on the computer or other programmableapparatus, provide events for implementing the functions/acts specifiedin the flowchart and/or block diagram block or blocks. Alternatively,computer program implemented events or acts may be combined withoperator or human implemented events or acts in order to carry out anembodiment of the invention.

As the phrase is used herein, a processor may be “configured to” performor “configured for” performing a certain function in a variety of ways,including, for example, by having one or more general-purpose circuitsperform the function by executing particular computer-executable programcode embodied in computer-readable medium, and/or by having one or moreapplication-specific circuits perform the function.

Thus, systems, apparatus, and methods are described in detail below forclosed loop resource event processing. In response to receiving arequest to process a resource event in real-time, a determination ismade as to whether the resource event implicates a user-specificresource depository held by the resource recipient at (i) the eventinitiating entity system, or (ii) an entity system other than eventinitiating entity system. In response to determining that the resourceevent implicates the user-specific resource depository held by theresource recipient at the event initiating entity system, a closed loopnetwork group is generated between the resource provider and theresource recipient and the resource event request is routed forprocessing within the event initiating entity system. In response todetermining that the resource event implicates the user-specificresource depository held by the resource recipient at an entity systemother than event initiating entity system, the resource event request isrouted for processing within a real-time processing network.

In specific embodiments of the invention, the resource event is afinancial payment transaction or disbursement of funds. Thus, inaccordance with such embodiments, in response to receiving a paymenttransaction request that requests real-time processing, a determinationis made as to whether the payment transaction or disbursement requirespayment to an account held by the payor at the same financialinstitution that initiates the payment transaction (i.e., typically thepayee's financial institution) or whether the payment transaction ordisbursement requires payment to an account held by the payor at afinancial institution other than financial institution that initiatesthe payment transaction.

In response to determining that the payment transaction or disbursementrequires payment to an account held by the payor at the same financialinstitution that initiates the payment transaction, a closed-loopnetwork group is generated between the payor and the payee within thefinancial institution that initiates the payment transaction and thepayment request is routed for real-time payment internally within thatfinancial institution. In addition, the internal processing may includelogical determination of payment routing, payment channel and/or paymenttiming (e.g., which date and/or time the real-time payment shouldoccur).

In response to determining that the payment transaction or disbursementrequires payment to an account held by the payor at a differentfinancial institution other than the one initiates the paymenttransaction, the payment request is routed to an external real-timeprocessing network for subsequent real-time payment/disbursementprocessing.

FIG. 1 illustrates a block diagram of a high-level real-time processingsystem 100, in accordance with embodiments of the present invention. Inthe illustrated system 100, a first user 110A is associated with a firstentity system 130 and a second user 110B is associated with a secondentity system 140. A real-time processing network 300 is configured toprocess, in real-time, a resource event 310, in which first user 100 ais the resource provider and second user 100 b is the resourcerecipient. In specific embodiments of the invention, real-timeprocessing provides for the resources to be available to the resourcerecipient immediately (i.e., once the real-time processing network 300has completed processing the resource event 310). In other embodimentsof the invention, real-time processing provides for the resource event310 to be cleared/settled upon completion of processing by the real-timeprocessing network 300. In specific embodiments of the invention, thereal-time processing nature means that once the first user 100 ainitiates the resource event 310, the resource event is deemedirrevocable (i.e., the resource event cannot cancelled or otherwiseprevented from completion).

In specific embodiments of the invention, the first user 110A and thesecond user 110B are users of the real-time processing system 100, suchthat, the first user 110A initiates a resource event in which the seconduser 110B is the resource recipient. In specific embodiments of theinvention, the first user 110A initiates the resource event from thefirst entity system 130 by providing requisite authenticationinformation, which serves to authenticate the identity of the first user110A. In specific embodiments of the invention, authentication of anidentity may include multi-factor/multi-step authentication (i.e.,involving one or more computing devices) as required by informationsecurity standards and requirements. The first user 100A may alsoprovide, as part of the authentication information, a resourcedepository identifier, which serves to identify a source for resourcesassociated with the resource event 310. In such embodiments of theinvention, first entity system 130 may authenticate the validity of theresource depository and validate that the resource depository currentlystores a sufficient volume of resources to process the resource event310.

In specific embodiments of the invention, once the first user 100Ainitiates the resource event 310, the second user 110B, as the resourcerecipient, receives communication, via the second entity system 140 toaccept the resources (i.e., accept the resource event) followingperformance of requisite user authentication requirements. Communicationbetween first user 100A and second user 100B related to the resourceevent is transmitted between the first and second entity systems 130 and140 via the real-time processing network 300. The real-time processingnetwork 300 is configured to directs the resources to the appropriateentity system associated with resource recipient, in this instancesecond entity system 140 associated with the second user 100 b.

It should be understood that while the illustrated embodiment of FIG. 1depicts only first and second users 100A and 100B, and first and secondentity systems 130 and 140, in actual embodiments of a real-timeprocessing network 300 numerous entity systems having correspondingnumerous users may interact with the real-time processing network 300 toprocess, as needed, resource events 310 in real-time.

In accordance with specific embodiments of the invention, the terms“entity system” may include any computing system comprising one or morecomputing devices (e.g., servers, storage devices, personal computers(PCs) and the like) associated with entity/organization having a need toprocess resource events in real-time.

Furthermore, the term “user” may include a single individual or a groupof individuals that desire to perform a resource event in real-time. The“user”, as referenced herein, may refer to an individual or group ofindividuals that has the ability and/or authorization to access and useone or more resources or portions of a resource and request and initiatereal-time processing via the real-time processing network 300. Moreover,the association between the users and the entity systems may be aone-time association for the purpose of processing the resource event inreal-time or the association may be an ongoing association in which theusers regularly process resource events, those in real-time andotherwise, with the associated entity system.

As used herein, the term “user computing device” or “mobile device” or“communication device” may refer to mobile phones, personal computingdevices, tablet computers, wearable devices, smart devices and/or anyportable electronic device capable of receiving (wirelessly orotherwise) and/or storing data therein. A “user interface” is any deviceor software that allows a user to input information, such as commands ordata, into a device, or that allows the device to output information tothe user. For example, the user interface may include a graphical userinterface (GUI) or an interface to input computer-executableinstructions that direct a processing device to carry out specificfunctions. The user interface typically employs certain input and outputdevices to input data received from a user second user or output data toa user. These input and output devices may include a display, mouse,keyboard, button, touchpad, touch screen, microphone, speaker, LED,light, joystick, switch, buzzer, bell, and/or other user input/outputdevice for communicating with one or more users.

A “system”, as used herein, may refer to any information technology (IT)platform and may include a plurality of computing devices, such asservers, mainframes, personal computers, network devices (portable andotherwise), front and back end devices, database/storage devices and/orthe like.

Referring to FIG. 2 a block diagram is depicted of a high-levelreal-time processing system 200, in accordance with one embodiment ofthe invention. In the illustrated embodiments, a first user 110A isassociated with a first entity system 130 and a second user 110B isassociated with a second entity system 140. The real-time processingnetwork 300 is configured as a clearing house system in which theresource event 310 is conducted between a first entity-specific resourcedepository 320 and a second entity-specific resource depository 330. Thefirst entity-specific resource depository 320 and the secondentity-specific resource depository 330 are accessible by eachrespective entity system, i.e., first entity-specific resourcedepository 320 is accessible to first entity system 130 andsecond-entity-specific resource depository 330 is accessible to secondentity system 140. The real-time processing network 300 acts as atrusted intermediary during completion (e.g., clearing/settlement) ofthe resource event 310. Resources are be transferred by each entitysystem 130 and 140 to and from their respective entity-specific resourcedepositories 320 and 330. Resource transfers between the firstuser-specific resource depository 132 and the second user-specificresource depository 142 are administered by the clearing house system300 pending authentication and authorization of the users 110A and 100Band/or the user-specific resource depositories 132 and 142 as requiredby the resource event 310.

The clearing house system of the real-time processing network 300 isconfigured to direct the resources to the appropriate entity systemassociated with the second user 100B (i.e., resource recipient). Thetransfer of resources occurs between the first entity-specific resourcedepository 320 and second entity-specific resource depository 330 onbehalf of their associated users 110A and 110B, wherein the resourceevent 310 may be cleared/settled at the entity systems immediately,concurrent with the completion of the resource event. As settlementoccurs between the representative entity systems 130 and 140, resourcesare deleted from and added to the corresponding user-specific resourcedepositories 132 and 142. As a result of the resource event being issettled immediately, the resources are made available for use by theresource recipient (e.g., second user 100B) in real or near real-time.

In specific embodiments of the invention, the system 500 may furthercomprise more than one real-time processing network 300/clearing housesystem that receive and process resource event requests as describedherein.

Referring to FIG. 3 a block diagram is shown of a high-level real-timeprocessing system 400, in accordance with embodiments of the presentinvention. In the illustrated system 100, a first user 110A isassociated with a first entity system 130, such as a customer of a firstfinancial institution and a second user 110B is associated with a secondentity system 140, such as a customer of a second financial institution.In this regard the real-time processing network 300 otherwise referredto as a real-time payment (RTP) network is configured to process, inreal-time, a resource event in the form of a transaction/disbursement310 of funds, in which first user 100 a provides the funds and seconduser 100 b receives the funds. In specific embodiments of the invention,real-time payment provides for the funds to be available to therecipient (i.e., second user/customer 100B) immediately (i.e., once thereal-time payment network 300 has completed processing thetransaction/disbursement 310). In other embodiments of the invention,real-time payment provides for the transaction/disbursement 310 to becleared/settled upon completion of processing by the RTP network 300. Inspecific embodiments of the invention, the real-time aspect of RTPnetwork 300 means that once the first user 100A initiates thetransaction/disbursement 310, the transaction/disbursement 310 is deemedirrevocable (i.e., the transaction/disbursement cannot be cancelled,interrupted or otherwise prevented from completion/settlement) and thefirst user 100A bares an obligation to remit the funds to the seconduser 100B.

In specific embodiments of the invention, the RTP network 300 isconfigured to communicate in accordance with an industry-wide standardmessaging protocol. For example, in specific embodiments of theinvention, the messaging protocol may adhere to InternationalOrganization for Standardization (ISO) standard 20022, which detects theformat and rules for communicating messages/commands between the entitysystems 130 and 140 and the RTP network 300. In specific embodiments ofthe invention, the transaction/disbursement 310 may occur, in itsentirety, via a series of messages communicated between the entities 130and 140 via the RTP network 300. While in other embodiments of theinvention, such as those, discussed in relation to FIG. 4, infra., theRTP network 300 will implement a clearing house system.

In specific embodiment of the invention, the first user 110A and thesecond user 110B are predetermined users (i.e., registered users) of thereal-time processing system 400, wherein the first user 110A (i.e., thepayor) initiates a credit transfer to the second user 110B (i.e., thepayee). In specific embodiments of the invention, the first user 110A isrequired to initiate the transfer from the first entity system 130 inresponse to the first user 110 a providing authentication information toauthenticate the identity of the first user 110A and validity of thefirst user account 132 held at the first entity system 130. Theauthentication information may include account numbers, routing numbers,PIN numbers, username and password, date of birth, social securitynumber, or the like, or other authentication information as describedherein. As previously described, in some embodiments of the invention,user identity authentication may comprise multi-factor/multi-stepauthentication as prescribed by information security standards andrequirements. In addition, the system 400 may provide for authorizingthe transaction/disbursement 310 based on verifying the first useraccount 132 held at the first entity system 130 currently stores atleast a sufficient amount of available funds to fulfill thetransfer/disbursement 310. While in certain embodiments of theinvention, the first user 110 a initiates the transfer from a physical,brick-and-mortar location of the first entity system 130, in alternativeembodiments described herein, the transfer may be initiated from otherlocations in which the user is not required to be at a brick-and-mortarlocation (e.g., via an electronic application, a website, apoint-of-sale (POS) device or the like).

Upon the first user 100A initiating transaction/disbursement 310, thesecond user 110B, as the payee, receives a communication to acceptpayment in response to the second user providing requisiteauthentication information and the system 400 verifying the identity ofthe second user and the validity of the second user account 142. Aspreviously discussed, communication related to thetransaction/disbursement 310 between first and second user 100A istransmitted between the first and second entity systems 13 and 140 viathe real-time processing network 300 which directs the payment to theappropriate entity (e.g., second entity system 140) associated with thepayment recipient (i.e., second user 100B). As settlement occurs betweenthe representative first and second entity systems 130 and 140, debitingand crediting of individual user accounts (i.e., first and second useraccounts 132 and 142) may be managed at each entity system. As thetransaction/disbursement is settled immediately, funds may be madeavailable for use by the recipient (i.e., second user 100B) in real ornear real-time.

The entity systems 130 and 140 may be associated with financialinstitutions or any other entity/organization that processes financialtransactions/disbursements or the like. Additionally, it should beappreciated by someone with ordinary skill in the art that the user maybe an existing customer of the financial institution or a potentialcustomer of the financial institution or the like.

Referring to FIG. 4 a block diagram is depicted of a high-levelreal-time processing system 500, in accordance with one embodiment ofthe invention. In the illustrated embodiments, a first user 110A isassociated with a first entity system 130, such as a customer of a firstfinancial institution and a second user 110B is associated with a secondentity system 140, such as a customer of a second financial institution.The real-time processing network 300 is a real-time payment (RTP)network configured as a clearing house system in which thetransaction/disbursement 310 is conducted between a firstentity-specific account 330 and a second entity-specific account 340.The first entity-specific account 330 and the second entity-specificaccount 340 are accessible by each respective entity system, i.e., firstentity-specific account 330 is accessible to first entity/financialinstitution system 130 and second entity-specific account 340 isaccessible to second entity/financial institution system 140. The RTPnetwork 300 acts as a trusted intermediary during settlement of thetransaction/disbursement 310. Funds are be transferred by each entitysystem 130 and 140 to and from their respective entity-specific accounts330 and 340. Fund transfers between the first user account 132 and thesecond user account 142 are administered by the clearing house system300 pending authentication and authorization of the users 110A and 100Band/or the user accounts 132 and 142 as required by thetransaction/disbursement 310.

The clearing house system of the RTP network 300 is configured to directthe funds to the appropriate entity system/financial institutionassociated with the second user 100B (i.e., payee). The transfer offunds occurs between the first entity account 330 and second entityaccount 340 on behalf of their associated users 110A and 110B. As such,the transaction/disbursement 310 may be cleared/settled at the entitysystems/financial institutions immediately, concurrent with thecompletion of the transaction/disbursement. As settlement occurs betweenthe representative entity systems/financial institutions 130 and 140,funds are debited and credited to the corresponding user accounts 132and 142. As a result of the transaction/disbursement being is settledimmediately, the funds are made available for use by the payee (e.g.,second user 100B) in real or near real-time.

In specific embodiments of the invention, the system 300 may furthercomprise more than one RTP network 300/clearing house system thatreceive and process transaction/disbursement requests as describedherein.

Referring to FIG. 5 a block diagram is presented of apparatus 500configured for closed-loop real-time resource event processing, inaccordance with embodiments of the invention. Apparatus 500 may compriseone or more server devices or the apparatus may comprise one of the oneor more other computing devices (e.g., mainframes, storage devices,personal computers (PCs) or the like) capable of executingcomputer-readable instructions. The Apparatus 500 includes a computingplatform 502 that can execute instructions, such as algorithms, modules,routines, applications and the like. Computing platform 502 includesmemory 504, which may comprise volatile and non-volatile memory, such asread-only and/or random-access memory (RAM and ROM), EPROM, EEPROM,flash cards, or any memory common to computer platforms). Moreover,memory 504 may comprise cloud storage, such as provided by a cloudstorage service and/or a cloud connection service.

Further, computing platform 502 also includes processor 506, which maybe an application-specific integrated circuit (“ASIC”), or otherchipset, logic circuit, or other data processing device. Processor 506may execute an application programming interface (“API”) 508 thatinterfaces with any resident instructions, such as instructions 510 andsub-instructions associated therewith or the like stored in the memory504 of the computing apparatus 500.

Processor 506 may include various processing subsystems (not shown inFIG. 5) embodied in hardware, firmware, software, and combinationsthereof, that enable the functionality of computing apparatus 500 andthe operability of the communication apparatus 500 on a distributedcomputing network. For example, processing subsystems allow forinitiating and maintaining communications and exchanging data with othernetworked devices. For the disclosed aspects, processing subsystems ofprocessor 506 may include any subsystem used in conjunction withinstructions 510 and related sub-instructions, sub-routines, algorithms,sub-algorithms, modules, sub-modules thereof.

Computer platform 502 may additionally include a communications module(not shown in FIG. 5) embodied in hardware, firmware, software, andcombinations thereof, that enables electronic communications between thecomputing apparatus 500 and other networks, such as real-time processingnetwork 300 (shown in FIGS. 1-4) and devices. Thus, communication modulemay include the requisite hardware, firmware, software and/orcombinations thereof for establishing and maintaining a networkcommunication connection.

Further, the memory 504 of apparatus 500 stores instructions 510 thatare executable by processor 506. The instructions 510 are configured toreceive, from a first user (i.e., resource provider) 110A associatedwith a first entity system 130, a resource event request 512 thatrequests processing of a resource event 310 in real-time. In response toreceiving the request 512 a determination 516 is made as to whether theresource event 310 implicates a user-specific resource depository 518,520 held by a second user (i.e., resource recipient) (i) the firstentity system, or (ii) an entity system other than the first entitysystem. In those embodiments, in which the resource event 310 is atransaction/disbursement, the determination 518 is to whether thepayor's designated payment account is held at the same financialinstitution that receives the request (i.e., the payee's financialinstitution) or the account is held at another financial institution.

In response to determining that the resource event 310 implicates auser-specific resource depository 518 held by the second user at thefirst entity system, a closed-loop network group 524 is generatedbetween the first user 100A and the second user 100B and the request 512is routed 526 for processing within the first entity system 130. Itshould be noted that the first entity system 130 is configured toprocess the request 512 in real-time. In specific embodiments, the firstentity system 130 includes an internal real-time processing network thatis configured to perform real-time processing in a same or similarmanner than the external real-time processing network 300. Thus, inspecific embodiments of the invention, the internal real-time processingnetwork of the first entity system 300 will employ the samestructure/messaging protocol as used within the real-time processingnetwork 300. In those embodiments of the invention, in which theresource event 310 is a transaction/disbursement, in response todetermining that the payor's designated payment account is held at thepayee's financial institution, the payment request is routed forinternal processing within the first financial institution's internalreal-time payment system/network. In such embodiments, the internalreal-time payment system/network may implement the samestructure/messaging protocol (e.g., ISO 20022) as used in the RTPnetwork 300. Same structuring/messaging protocol allow for bothinternally processed real-time payments and externally processedreal-time payments to be stored and subsequently analyzed together.

In response to determining that the resource event 310 implicated auser-specific resource depository 520 held by the second user at anotherentity system other than the first system, the request 512 is routed 528for processing within the real-time processing network 300. In thoseembodiments of the invention, in which the resource event 310 is atransaction/disbursement, in response to determining that the payor'sdesignated payment account is held at a financial institution other thatthe financial institution at which the payment request is received(e.g., the payee's financial institution), the payment request is routedfor externally processing within the real-time payment network.

Referring to FIG. 6 a block diagram is presented of apparatus 500configured for processing a resource event in real-time based onpresentation of a virtual and/or tokenized resource instrument, inaccordance with embodiments of the invention. The apparatus 500 is thesame as the apparatus shown and described in relation to FIG. 4 exceptfor the contents stored in memory 504 and, therefore, for the sake ofbrevity, only the contents stored in memory 504 will be describedherein.

Memory 504, which may be memory associated with device possessed by auser 100 (e.g., mobile device including a mobile wallet) and/or thefirst entity system 130, stores virtual and/or tokenized resourceinstrument 530. The virtual and/or tokenized resource instrument 530includes one or more coded identifiers 532. The coded identifiers may beencrypted to allow for secure wireless communication of the identifiers532. The coded identifiers identify the user 110 and provides access 544to a real-time process network 300. In specific embodiments of theinvention, the coded identifier(s) may additional identify one or moreresource depositories 534 configured for processing a resource event310. Thus, in those embodiments in which the resource event 310 is atransaction/disbursement the resource instrument is a virtual and/ortokenized funding instrument that provides access to the real-timepayment network for conducting the transaction/disbursement in real-time(i.e., funds become available to the payee in real-time to thetransaction/disbursement and/or the transaction is settled/cleared atthe payee's and payor's financial institutions in real-time).

Memory 504 of apparatus 500 additionally stores instructions 540 thatare executable by the processor 506. The instructions 540 are configuredto receive a resource event request 512 for processing a resource event310 in real-time. The resource event request 512 including the codedidentifier(s) 532 from the resource instrument 530. In addition theresource event request may include the resource volume associated withthe resource event and a resource recipient resource depositoryidentifier. In those embodiments in which the resource event 310 is atransaction/disbursement, the payment request may include the codedidentifier(s) and, optionally the amount of the transaction/disbursementand an identifier (e.g., routing number or the like) for the payee'sdesignated payment account.

In response to receiving the resource event request, the codedidentifiers 532 are decoded 542 to identify the user 110 and, inspecific embodiments, the user-specific resource depository 534 fromwhich the resources are to be provided for processing the resource event310. Decoding of the identifiers 532 may include decrypting theidentifiers.

In response to decoding 542 the coded identifier(s) 532, the user 110and, in some embodiments the resource depository 534 is authenticated544. Authenticating 544 the user 110 may include receiving useridentification credentials from the user (e.g., username and passcode,biometric data or the like) and comparing the received useridentification credentials to stored and verified user identificationcredentials. In other embodiments of the invention, authenticating 544the user 110 may include a multi-factor/multi-step authenticationprocess or the like. Authenticating 544 the resource depository 534 mayinclude verifying the existing and active state of the resourcedepository (i.e., the resource depository is not inactive, down, orotherwise on hold). In those embodiments in which the resource event 310is a transaction/disbursement, authenticating the payment account mayinclude verifying that the payment account exists and is active (i.e.,not on hold, suspended or the like).

In addition, the resource event 310 is authorized 546 for processing onthe real-time processing network 300. In specific embodiments of theinvention, authorizing 546 the resource event 310 for processing on thereal-time processing network 300 may include verifying that the resourcedepository includes the requisite resources to conduct the resourceevent and/or that the resource recipient's designated resourcedepository is configured to receive the volume of resources. In thoseembodiments of the invention in which the resource event 310 is atransaction/disbursement authorizing the transactions may includeverifying that the payment account currently has the requisite amount offunds and/or verifying that the designated payee's account is configuredto receive payment in the amount of the transaction/disbursement.

In response to authenticating 544 the user 110 and, in some embodiments,the resource depository 534 and authorizing 546 the resource event 310,the real-time processing network 300 is accessed and communication of aprocessing command 550 is initiated 548 to the real-time processingnetwork 300 that authorizes the real-time processing of the resourceevent 310. In those embodiments of the invention, in which the resourceevent 310 is a transaction/disbursement, in response to authenticatingthe user and, optionally, the payment account and authorizing thetransaction/disbursement, the real-time payment network is accessed anda processing command is sent to the network that authorizes the networkto process the payment request in real-time.

Referring to FIG. 7 a block diagram is presented of apparatus 500configured for initiating resource event processing across internationalreal-time processing networks, in accordance with embodiments of theinvention. The apparatus 500 is the same as the apparatus shown anddescribed in relation to FIG. 4 except for the contents stored in memory504 and, therefore, for the sake of brevity, only the contents stored inmemory 504 will be described herein. The invention discussed in relationto FIG. 7 provides for a plurality of interconnected real-timeprocessing networks, such that each of the real-time processing networksare associated with a different country or geographic region and areinterconnected in a network-to-network configuration.

The memory 504 of apparatus 500 stores instructions 560 that areexecutable by the processor 506, The instructions are configured toreceive a resource event request 570 that is configured to providereal-time processing for a resource event 310 that implicates a firstuser 100A associated with a first entity system 130 located in firstcountry or geographic region and a second user 100B associated with asecond entity system 140 located in a second country or geographicregion different from the first country or geographic region. Inspecific embodiments of the invention, in which the resource event istransaction/disbursement, the funds are transferred from a user accountin one country to a user account in a second country.

The instructions 570 are further configured to authenticate 576 the user110 and the second entity system 140. The user is authenticated byreceiving user identification credentials (i.e., username/passcode,biometric data) and comparing the credentials to known/stored useridentification credentials. The second entity system 140 isauthenticated by verifying that the country and/or second entity systemare configured and authorized for an international resource event.

The instructions 570 are further configured to determine 580 processingparameters 582 for the resource event 310. In specific embodiment of theinvention, the processing parameters 582 which may be dictated based onat least one of the first country 572 and the second country 574 mayinclude, but are not limited to, settlement rules 584 that apply to theresource event, exchange rules 586 that apply to the resource event(e.g., exchange rate, where exchange should occur, when exchange shouldoccur), and legal rules 588 that apply to the resource event. In thoseembodiments of the invention, in which the resource event 310 is atransaction/disbursement the processing parameters 582 may include anyparameter related to the international real-time payment beingprocessed. It should be noted that processing parameters 582 may bedetermined at the first entity system or at the second entity systemdepending on applicable rules governing the resource event.

The instructions 570 are further configured to initiate communication590 of a processing command 592 to at least one of the first country'sreal time processing network 300A or the second country's real-timeprocessing network 300B. In specific embodiments of the invention theprocessing command/message 592 is communicated to the first country'sreal time processing network 300A, which forwards the command to thesecond country's real-time processing network 300B for subsequentprocessing of the resource event within the second country's real-timeprocessing network 300B. In addition, the processing command 592 mayinclude the processing parameters 582. In those embodiments of theinvention, in which the resource event 310 is atransaction/disbursement, the payment command can be communicated toeither the first country's or second country's real-time payment networkto authorize real-time payment processing.

Referring to FIG. 8 a flow diagram is depicted of a method 600 forclosed-loop real-time event processing, in accordance with embodimentsof the present invention. At Event 610, a resource event request isreceived that requests real-time processing of a resource event. Theresource event is received at a first entity system that is associatedwith a first user that is providing resources for the resource event. Inspecific embodiments of the invention, a payment request is receivedthat requests real-time payment for a transaction/disbursement.

At Event 620, a determination is made as to whether the resource eventimplicates a user-specific resource depository held by a second user atthe first entity system or a user-specific resource depository held by asecond user at another/different entity system other than the firstentity system. In specific embodiments of the invention thedetermination may be made by reading or recognizing a resourcedepository identifier in the resource event request. In specificembodiments of the invention, a determination is made as to whether thepayment is to be deposited into an account held at the financialinstitution processing the request (e.g., the payee's financialinstitution) or at an account held at a different financial institution.

If the determination is made that resource event implicates auser-specific resource depository held by the second user at the firstentity system, at Event 630, a closed-loop network group is generatedbetween the first user and the second user and the resource eventrequest is routed for processing within the first entity system. Inspecific embodiments of the invention, the resource event request isrouted to an internal real-time processing system that utilized the samemessaging structuring as the external real-time processing network. Inthose embodiments in which the resource event is atransaction/disbursement, in response to determining that the payment isto be made to an account held by the financial institution handling therequest (e.g., the payee's financial institution), the payment is routedand processed, in real-time, within the financial institution handlingthe request.

If the determination is made that resource event implicates auser-specific resource depository held by the second user atanother/different entity system other than the first entity system, atEvent 640, the resource event request is routed to the real-timeprocessing network for subsequent real-time processing. In thoseembodiments in which the resource event is a transaction/disbursement,in response to determining that the payment is to be made to an accountheld at a financial institution other than the financial institutionhandling the request (e.g., the payee's financial institution), thepayment request is routed to the external real-time payment network forsubsequent real-time processing. In specific embodiments of theinvention, in which the determination is made that resource eventimplicates a user-specific resource depository held by the second userat another/different entity system other than the first entity system, adirectory look-up may be undertaken to determine if the second userholds an account at the first entity system and, if a determination ismade that the second user holds an account at the first entity system,notifying at least one of the first and/or second users that theresource event may be structured such that the resources are received atthe resource depository held by the second user at the first entitysystem.

Referring to FIG. 9 a flow diagram is depicted of a method 700 forprocessing a resource event in real-time based on presentation of avirtual and/or tokenized resource instrument, in accordance withembodiments of the invention. At Event 710, a resource event request isreceived that includes at least one coded identifier from a virtualand/or tokenized resource instrument and, optionally, a resource volumeassociated with the resource event and a user-specific resourcedepository associated with a second user (i.e., resource recipient). Inthose embodiments of the invention in which the resource event istransaction/disbursement the request may include the coded identifiersfrom a virtual/tokenized payment instrument, a payment amount and apayor's designated account for receiving the funds.

At Event 720, the one or more coded identifies are decoded to identifythe first user and, in some embodiments, a user-specific resourcedepository configured to provide the resources and/or processingparameters, such as routing, settlement and the like. Decoding of thecoded-identifiers also provides access to a real-time processingnetwork. In those embodiments of the invention in which the resourceevent is a transaction/disbursement, decoding the identifiers identifiesthe payee and, in some embodiments, the payee's payment account andprocessing parameters, such as settlement and routing and providesaccess to the real-time payment network.

At Event 730, in response to receiving user identification credentials(e.g., username/passcode, biometric information and/or the like) theuser is authenticated (i.e., the identity of the user is verified).Additionally, in specific embodiments of the method, the user-specificresource depository is authenticated by verifying the existence and/oractive status of the resource depository. In those embodiments of theinvention in which the resource event is a transaction/disbursement, thepayee's payment account is authenticated by verifying that the accountis active (i.e., not on hold, suspended or the like).

At Event 740, the resource event is authorized to be processed via thereal-time processing network. In specific embodiments of the method,authorizing the resource event for processing includes verifying thatthe user-specific resource depository currently stores a volume ofresources required to process the resource event and/or verifying theresource recipient's user-specific resource depository is configured toreceive resources of the requisite volume. In those embodiments of theinvention in which the resource event is a transaction/disbursement,authorizing the transaction/disbursement may include verifying that thepayee's account currently has adequate funding for the transactionand/or verifying that the payor's account can accept funds in the amountof the transaction/disbursement.

At Event 750, in response to authorizing the resource event, thereal-time processing network is accessed and a processing command iscommunicated to the real-time payment network that authorized thenetwork to process the resource event. In specific embodiments of theinvention, the processing commands may include the decoded processingparameters. In those embodiments of the invention in which the resourceevent is a transaction/disbursement, in response to authorizing thetransaction/disbursement, a payment command is communicated to thereal-time payment network that authorizes the network to provide paymentin real-time.

Referring to FIG. 10 a flow diagram is shown of a method 800 forinitiating resource event processing across interconnected internationalreal-time networks, in accordance with embodiments of the presentinvention. At Event 810, a resource event request is received that isconfigured for real-time processing of a resource event. The resourceevent implicates a resource provider associated with a first entitysystem located in a first country and a resource recipient associatedwith a second entity system located in a second country. In thoseembodiments of the invention, in which the resource event is atransaction/disbursement, the payor is associated with a first financialinstitution in a first country and the payee is associated with a secondfinancial institution (i.e., holds an account at a second financialinstitution at which payment is to be received) in a second country.

At Event 820, the user and the second entity system are authorized forconducting the resource event. Authorization of the user may not onlyinclude verifying the identity of the user but also determining that theuser meets guidelines pertaining to the number of resource eventsconducted internationally or with the second country over a period oftime, the volume of resources associated with resource events over apredetermined period of time and the like. Moreover, in specificembodiments exposure level of the user is determined and a determinationis made that the exposure level fails below a predetermined levelassociated with at least one of the first country, the second country,and the second entity system. Authorization of the resource event mayinclude verifying that the second country and/or second entity systemare associated with real-time processing networks and are verified forconducting real-time resource events.

At Event 830, one or more processing parameters are determined. Theprocessing parameters may include, but are not limited to, settlementrules, exchange rules (e.g., exchange rate rules, where exchange shouldoccur and the like) and legal rules.

At Event 840, a resource event command is communicated to at least oneof the first country's real time processing network or the secondcountry's real-time processing network. In specific embodiments of theinvention the processing command/message is communicated to the firstcountry's real time processing network, which forwards the command tothe second country's real-time processing network for subsequentprocessing of the resource event within the second country's real-timeprocessing network. In addition, the processing command may include theprocessing parameters. In those embodiments of the invention, in whichthe resource event is a transaction/disbursement, the payment commandcan be communicated to either the first country's or second country'sreal-time payment network to authorize real-time payment processing.

Referring to FIG. 11 a block diagram of a high-level interconnectedreal-time processing system 900, in accordance with embodiments of thepresent invention. In the illustrated system 100, a first user 110A isassociated with a first entity system 130 located in firstcountry/geographic region 572 and a second user 110B is associated witha second entity system 140 located in a second country/geographic region574. Each country/geographic region 572, 574 operates a real-timeprocessing network 300A and 300B that are interconnected in anetwork-to-network manner and are configured to process, in real-time, aresource event 310, in which first user 100 a is the resource providerand second user 100 b is the resource recipient.

Thus, present embodiments of the invention, including systems, apparatusmethods and/or the like, provide for closed-loop event resourceprocessing. Specifically, an initial determination is made as to whethera resource event requiring real-time processing can be processed absentan external real-time processing network. In the event that adetermination is made that the resource event can by processed absentthe external real-time processing network, a closed network group iscreated internally within the event-initiating system and the event isprocessed internally within the event initiating-system. By limiting theuse of the real-time processing network to only those resource eventthat require such processing, less burden is placed on real-timeprocessing network, meaning less processing resources are required andthe processing that is required on the real-time processing network canoccur more efficiently and effectively.

While certain exemplary embodiments have been described and shown in theaccompanying drawings, it is to be understood that such embodiments aremerely illustrative of and not restrictive on the broad invention, andthat this invention not be limited to the specific constructions andarrangements shown and described, since various other changes,combinations, omissions, modifications and substitutions, in addition tothose set forth in the above paragraphs, are possible.

Those skilled in the art may appreciate that various adaptations andmodifications of the just described embodiments can be configuredwithout departing from the scope and spirit of the invention. Therefore,it is to be understood that, within the scope of the appended claims,the invention may be practiced other than as specifically describedherein.

What is claimed is:
 1. A system for closed loop resource eventprocessing, the system comprising: a real-time processing networkconfigured to (i) process resource events in real-time, and (ii)implement a messaging protocol in accordance with InternationalStandardization Organization (ISO) 20022; and a first computing platformhaving a first memory and at least one first processor in communicationwith the first memory, wherein the first memory stores firstinstructions that are executable by the at least first processor andconfigured to: receive, from a first user associated with a first entitysystem, a resource event request that requests processing of a resourceevent in real-time, in response to receiving the resource event request,determine whether the resource event implicates a user-specific resourcedepository held by a second user at (i) the first entity system, or (ii)an entity system other than first entity system by determining whetherthe resource event request includes a resource depository identifierassociated with the second user and held at the first entity or theentity system other than the first entity, in response to determiningthat the resource event implicates the user-specific resource depositoryheld by the second user at the first entity system (a) logicallydetermine (i) an event route for processing the resource event withinthe first entity system, (ii) timing for initiating processing of theresource event within the first entity system and, (iii) a resourceevent channel for processing the resource event within the first entitysystem, (b) generate a closed loop network group between the first userand the second user and (c) initiate real-time processing of theresource event within the first entity system according to thedetermined timing using the determined event route and determinedresource event channel, wherein the real-time processing within thefirst entity system implements the messaging protocol in accordance withISO 20022, and in response to determining that the resource eventimplicates the user-specific resource depository held by the second userat the entity system other than first entity, route the resource eventrequest for processing within the real-time processing network.
 2. Thesystem of claim 1, wherein the real-time processing network furthercomprises: at least one resource event processing hub, each resourceevent processing hub including a second computing platform having asecond memory and at least one second processor in communication withthe second memory, wherein the second memory stores (i) a plurality ofentity-specific resource depositories, each entity-specific resourcedepository associated with one of a plurality of entities and configuredto store resources, and (ii) second instructions that are executable bythe at least second processor and configured to, in response todetermining that the resource event implicates the user-specificresource depository held by the second user at the entity system otherthan first entity: receive, from the first entity system, a resourceevent command, in response to receiving the resource event command,process a hub-based resource event that implicates one of theentity-specific resource depositories associated with the first entityand another of the entity-specific resource depositories associated withthe entity system other than the first system, wherein the hub-basedresource event provides for real-time clearing of the resource event atthe entity system and the entity system other than the first system. 3.The system of claim 1, wherein the first instructions are configured to:in response to determining that the resource event implicates auser-specific resource depository held by the second user at the entitysystem other than the first entity system, access a resource depositorydirectory to determine whether the second entity holds a resourcedepository at the first entity system, and in response to determiningthat the second user holds a resource depository at the first entity,communicating request to at least one of the first user or the seconduser that requests that the resource depository held by the second userat the first entity be implicated in the resource event.
 4. The systemof claim 1, wherein the first instructions are executed as part of acentralized resource event processing hub and configured to receiveresource event requests from users associated with one or more of aplurality of entity systems.
 5. The system of claim 1, wherein theresource event is one of a resource transaction or a resourcedisbursement.
 6. A computer-implemented method for closed loop resourceevent processing, the computer-implemented method is implemented by oneor more processing devices and comprises: receiving, from a first userassociated with a first entity system, a resource event request thatrequests a real-time resource event; in response to receiving theresource event request, determine whether the resource event implicatesa user-specific resource depository held by a second user at (i) thefirst entity system, or (ii) an entity system other than first entitysystem by determining whether the resource event request includes aresource depository identifier associated with the second user and heldat the first entity or the entity system other than the first entity; inresponse to determining that the resource event implicates theuser-specific resource depository held by the second user at the firstentity system, (1) logically determine (i) an event route for processingthe resource event within the first entity system, (ii) timing forinitiating processing of the resource event within the first entitysystem and, (iii) a resource event channel for processing the resourceevent within the first entity system, (2) generating a closed loopnetwork group between the first user and the second user and (3)initiating real-time processing of the resource event within the firstentity system according to the determined timing using the determinedevent route and determined resource event channel, wherein the real-timeprocessing within the first entity system implements messaging protocolin accordance with International Standardization Organization (ISO)20022; and in response to determining that the resource event implicatesthe user-specific resource depository held by the second user at theentity system other than first entity, routing the resource eventrequest for processing within a real-time processing network configuredto (i) process resource events in real-time, and (ii) implement themessaging protocol in accordance with ISO
 20022. 7. Thecomputer-implemented method of claim 6, further comprising in responseto determining that the resource event implicates the user-specificresource depository held by the second user at the entity system otherthan first entity: receiving, at a resource event processing hub, aresource event command from the first entity system; and in response toreceiving the resource event command, processing a hub-based resourceevent that implicates a first entity-specific resource depositoryassociated with the first entity and another entity-specific resourcedepository associated with the entity system other than the firstsystem, wherein the hub-based resource event provides for real-timeclearing of the resource event at the entity system other than the firstsystem.
 8. The computer-implemented method of claim 6, whereindetermining whether the resource event implicates a user-specificresource depository held by the second user at (i) the first entitysystem, or (ii) an entity system other than first entity system furthercomprises performing a search of a database that federates users withuser-specific resource depositories associated with the first entity todetermine whether the second user holds a user-specific resourcedepository at the first entity system.
 9. A computer program productcomprising: a non-transitory computer-readable medium comprising: afirst set of codes for causing a first computer to receive, from a firstuser associated with a first entity system, a resource event requestthat requests a real-time resource event; a second set of codes forcausing the first computer to, in response to receiving the resourceevent request, determine whether the resource event implicates auser-specific resource depository held by a second user at (i) the firstentity system, or (ii) an entity system other than first entity systemby determining whether the resource event request includes a resourcedepository identifier associated with the second user and held at thefirst entity or the entity system other than the first entity; a thirdset of codes for causing the first computer to, in response todetermining that the resource event implicates the user-specificresource depository held by the second user at the first entity system(a) logically determine (i) an event route for processing the resourceevent within the first entity system, (ii) timing for initiatingprocessing of the resource event within the first entity system and,(iii) a resource event channel for processing the resource event withinthe first entity system, (b) generate a closed loop network groupbetween the first user and the second user and (c) initiate real-timeprocessing of the resource event within the first entity systemaccording to the determined timing using the determined event route anddetermined resource event channel, wherein the real-time processingwithin the first entity system implements the messaging protocol inaccordance with ISO 20022; and a fourth set of codes for causing thefirst computer to, in response to determining that the resource eventimplicates the user-specific resource depository held by the second userat the entity system other than first entity, route the resource eventrequest for processing within a real-time processing network configuredto (i) process resource events in real-time, and (ii) implement themessaging protocol in accordance with ISO
 20022. 10. The computerprogram product of claim 9, wherein the non-transitory computer-readablemedium further comprises: a fifth set of codes for causing a secondcomputer to receive, from the first entity system, a resource eventcommand; a sixth set of codes for causing the second computer to, inresponse to receiving the resource event command, conduct a hub-basedresource event that implicates a first entity-specific resourcedepositories associated with the first entity and another of theentity-specific resource depositories associated with the entity systemother than the first system, wherein the hub-based resource eventprovides for real-time clearing of the resource event at the entitysystem other than the first system.
 11. The computer program product ofclaim 9, wherein the second instructions are further configured toconduct a search of a database that federates users with user-specificresource depositories associated with the first entity to determinewhether the second user holds a user-specific resource depository at thefirst entity system.
 12. The computer program product of claim 9,further comprising a fifth set of codes for causing the first computerto, in response to determining that the resource event implicates theuser-specific resource depository held by the second user at the firstentity system, logically determine (i) an event route for processing theresource event within the first entity system, (ii) timing forinitiating the processing of the resource event within the first entitysystem and/or (iii) a resource event channel for processing the resourceevent within the first entity system.